ESG, News/8 Feb 2023
Towards Greener Future – Borenius’ Carbon Footprint in 2021
By calculating our carbon footprint, we can identify the critical sources of our greenhouse gas emissions, establish our current emissions level, and come up with ways in which to reduce our emissions. We reviewed our emissions on three levels when calculating our carbon footprint.
In 2021, our carbon dioxide emission amounted to 1,320 tCO2e. Our calculation covers all emission sources, i.e.
- Scope 1 (direct GHG emissions, such as properties and vehicles),
- Scope 2 (indirect GHG emissions from purchased electricity, heating and cooling) and
- Scope 3 (indirect emissions from purchased products and services, covering the entire value chain).
This year our calculation method was broader than last year, which particularly highlighted the share of newly added Scope 3 – accounting for almost 90% of our emissions.
How have we compensated for our footprint?
We have fully compensated our emissions in terms of Scope 1 and 2. However, we lack sufficiently reliable data on our Scope 3 emissions, and as such, we have mainly excluded them from our compensation scheme. As an exception to this, we have compensated our business and employee travel and we have paid special attention to our event emissions, all of these falling within the Scope 3, the aim of which is to carry out a smooth transition into greener options.
We work together with Compensate and we have purchased high-quality carbon credits called Compensate Credits from a high-standard portfolio of carbon projects that meet the tight criteria related to climate integrity, biodiversity, social justice, and human rights. One Compensate Credit equals to at least one less tonne of carbon dioxide in the atmosphere.
The projects included in the portfolio meet highly selective, science-based evaluation criteria. However, creating climate impact is not enough, which is why Compensate Credits also take into consideration the UN Principles for Sustainable Development and other aspects in terms of biodiversity and overcompensation.
Further development is of importance
We are committed to reducing our carbon footprint , and we will continue to review and further develop our operations both within our organisation and in cooperation with our business partners and suppliers. The next step is to calculate our carbon footprint in 2022 and select our future compensation projects.